In 2013, the global conveying
equipment market was worth USD 31.89 billion. These equipments
provide an efficient, cost-effective and accurate technique for the rapid and
easy movement of goods from one place to another. Conveyor belts are usually
prepared from rubber and secured with textiles, PVC or steel according to the
application. These are used as carriers for goods across numerous end use
industries such as steel works, power, ports, metal mining & coal, cement,
airports and food & beverages.
Conveyors lead to diminish the
manufacturing time that, in turn, help plants in attaining operational
efficiency. Conveying equipment are used for decreasing human effort and time
in the transfer of goods from one place to another. They can be set up anywhere
and are considered to be harmless as compared to using a forklift and other
machines for the movement of goods. The making of modified conveying equipment
is enabled by the increased industrial production and developments in technologies.
Unit handling was the largest
product type which accounted for over 45% of the market in 2013. Key uses of
unit handling equipment include the monitoring of lesser batches which are most
largely applicable in businesses such as shipments, food & beverage
processing and other productions for durable goods. However, parts &
attachments is projected to witness the highest growth rate, at an estimated
CAGR of 2.4% from 2014 to 2020.
Browse full research report on Conveying
Equipment Market
Durable goods accounted for the highest market share of over 40% in 2013.
Growing demand for computer equipment and industrial machinery has led to the
high growth of durable goods. Durable goods is also forecasted to witness the
highest growth rate, at an anticipated CAGR of 2.0% from 2014 to 2020.
Europe accounted for over 60% of the global market in 2013.The growth in
this region is driven by the presence of few top automobile manufacturers such
as Audi, Mercedes and Ferrari. Europe is also projected to have the highest
growth at an estimated CAGR of 1.6% over the forecast period.
Global conveying equipment market is amalgamated with few companies
leading the market. The top three participants include Dematic, Rexnord and Sandvik
and together they accounted for over 35% of the total market in 2013. The
industry is moderately fragmented. The small unorganized companies across China
and South Korea are taking ardent steps such as M&As to gain market share.
There are ample opportunities for the new entrants, however high initial
investment leads to restraining them from entering the industry.
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